2010-07-14 11:34

A list of steel enterprises that meet the new requirements set by the Ministry of Industry and Information Technology (MIIT) will be unveiled by the end of 2011, a source with the ministry said, China Securities Journal reported Wednesday.

By then, the steel mills that are not on the list will be charged differently for water and electricity usage and be restricted in getting loans. Moreover, their iron ore imports will be cut off, the source said.

The ministry released new regulations for the iron and steel industry Monday, setting new requirements for China's steel mills in six aspects – products quality, environmental protection, energy consumption and use of other resources, technology and equipment, capacity and security, sanitation and social responsibility – as a step to curb overcapacity of the industry.

The source also said the six aspects will be a standard to decide whether a steel enterprises is backward in the industry, which will eliminate the steel mills lagging behind but also give those that meet the requirements but did not get approval in the past a chance to get the green light.

China's steel enterprises that got approval by governments produced only 300 million tons annually and another 300 million tons were produced by other enterprises illegally, Miao Wei, vice minister of MIIT, said earlier.